OVERVIEW
The AuditMiner program is based on the idea that no matter where plan assets are held, the plan’s audit package and reports all look the same. Processing takes a few minutes and the resulting workpapers are intuitive for auditors.
WHAT'S INCLUDED
The following AuditMiner workpapers are provided for each TPA:
Trial Balance Worksheet
Generates preliminary balances for all financial statement line items based on information available
Plan Analytics
Often utilized as preliminary analytical procedures performed during the risk assessment process.
Participant Activity Detail
A roll forward of all participant activity for the year, including investment options and money sources.
Investment Disclosure Support
Includes detail needed for the Schedule of Assets (Held at End of Year) and also a concentration analysis.
Loan Package
A roll forward of participant loans and related activity, a sample of new loans with relevant attributes, and procedures to consider performing to test compliance with the plan’s loan policy.
Investment Income Allocation
Schedule of participant activity and calculated investment return, compared to the plan level return and published sources.
Contribution Allocation
A comparison of the allocation of contributions in a participant's account to the participant’s direction per the recordkeeper’s records.
Contribution Timeliness
Includes a schedule of all paydays (if provided by the TPA), money source of the remittance, the date received by the TPA, and a calculation of days to remit.
Rollovers Package
Population of rollovers into the plan during the period, sample selection with relevant attributes, and procedures to consider performing.
Distribution Package
Population of distributions during the period, sample selection with relevant attributes, and procedures to consider performing.
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